Stocks to watch: GuocoLand, Incredible Holdings

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 12).

GuocoLand : The property developer secured S$367.1 million in green financing from DBS to develop a residential site in Faber Walk, which was awarded to its tie-up with joint venture partners TID and Hong Leong in November 2024. The green club facility was raised under its green finance framework, said the group on Tuesday. The 25,795.4 square metre site, which GuocoLand plans to develop into a 399-unit residential development spread across nine low-rise blocks, will be the group’s third project to achieve a Green Mark Platinum (Super Low Energy) with Maintainability Badge certification from the Building and Construction Authority. Shares of GuocoLand closed 1.4 per cent or S$0.02 lower at S$1.46 on Tuesday.

Incredible Holdings : Suspended Incredible Holdings inked a non-binding agreement with Malaysian company Sheng Tai International to exchange a prime land asset for shares that is expected to lead to a reverse takeover. The proposed transaction is part of its corporate strategy to diversify returns and achieve long-term growth, and is meant to provide new revenue streams and improve its prospects, said the Catalist-listed company’s board on Tuesday. Sheng Tai will inject a prime Malaysia land asset into Incredible for development and construction in return for new shares in the suspended company. Upon completion of the transaction, the latter’s board will be restructured by Sheng Tai. Shares of Incredible remain suspended.